OTE changes the head of Cosmote Romania

This resignation follows several other recent high-level changes within the OTE Group, and its Yugoslav Cosmofon subsidiary.

Tsolas, credited for the relaunch of the Cosmote (former Cosmorom) business in Romania, withdrew for “personal reasons,” according to company officials. Cosmote’s new CEO, Stefanos Theocharcopoulos, has been with the OTE Group since 2002, serving since 2006 as Executive Director for Business Development of OTEGlobe, a member of OTE Group.

Cosmote Romania is the Romanian mobile telephone subsidiary of Cosmote Group, controlled by OTE Group, which has 70 percent of the company’s shares. Cosmote Romania has over 3 million users and its net sales from services amounted to €105.2 mln in the first nine months of last year, compared to €46.8 in its first year in 2006. OTE is major shareholder of Romania’s fixed telephone operator, Romtelecom.